Credit Risk Analyst

Role Description

The Credit Risk Analyst will build and own the credit risk layer underpinning RockawayX’s RWA strategies and multi-asset RWA allocation vaults. You will translate traditional credit and RWA methodologies into robust on-chain risk frameworks, covering tokenized credit exposures, loan pools, and structured products integrated into our yield platform. You will work closely with the risk curation, engineering, and investment teams to define risk appetite, assess counterparties and structures, and ensure that all RWA allocations meet RockawayX’s standards for capital preservation, diversification, and institutional-grade transparency.

Key Responsibilities

• Credit Assessment & Underwriting
  • Conduct credit risk assessment of tokenized RWA issuers, originators, and underlying asset pools (e.g., private credit, trade finance, real estate, asset-backed facilities).
  • Evaluate tokenized structures and legal wrappers, including collateralization levels, seniority, covenants, and enforcement mechanisms for on-chain and off-chain claims.
  • Develop and adapt traditional credit models (PD, LGD, EAD, stress scenarios) and concentration metrics to tokenized instruments and on-chain data.
  • Collaborate with legal and structuring to review transaction documentation, term sheets, security packages, and servicing arrangements for RWA deals.
• Allocation Frameworks & Risk Curation
  • Design and maintain RWA allocation frameworks for multi-asset RWA vaults, covering limits by issuer, sector, collateral type, tenor, and jurisdiction.
  • Contribute to risk curation by balancing yield, duration, liquidity, and credit quality to support market-neutral and conservative yield strategies.
  • Partner with DeFi, data, and engineering teams to embed credit risk metrics into internal analytics, monitoring tools, and vault risk parameters.
• Monitoring & Reporting
  • Implement ongoing monitoring: exposure dashboards, early warning indicators, covenant tracking, and periodic review of RWA partners and facilities.
  • Prepare clear, decision-ready risk memos and recommendations for internal committees and governance processes.
  • Support external communication where needed (LP reporting, protocol partners, RWA platforms) on risk methodology and controls.

Core Competencies

• Credit Analysis: Financial statement analysis, cash flow modeling, collateral evaluation, covenants, and recovery analysis.
• Structured Products: Experience with securitizations, warehouse lines, or asset-backed facilities.
• Risk Modeling: PD, LGD, EAD frameworks, stress testing, concentration metrics adapted to tokenized instruments.
• Regulatory Awareness: Familiarity with Basel III/IV RWA treatment, collateral haircuts, credit conversion factors.
• Technical Skills: Proficiency in Excel; exposure to SQL or Python for data-driven risk analysis.
• Communication: Ability to produce concise risk memos and explain complex structures to non-specialists.

Required Experience

• 3 to 7 years of experience in credit risk, structured credit, private debt, or RWA underwriting at a bank, asset manager, credit fund, or rating agency.
• Strong grasp of credit risk concepts: financial statement analysis, cash flow modeling, collateral evaluation, covenants, and recovery analysis.
• Experience analyzing securitizations, warehouse lines, or asset-backed facilities is highly valued.
• Solid analytical toolkit with proficiency in Excel; exposure to SQL or Python for data-driven risk analysis is a plus.

Desired Qualities

• Genuine interest in DeFi, tokenization, and RWA vaults, with a willingness to learn on-chain mechanics and protocol design.
• Familiarity with RWA and regulatory capital concepts (Basel III/IV RWA treatment, collateral haircuts, credit conversion factors).
• Strong written and verbal communication skills, with the ability to produce concise risk memos and explain complex structures to non-specialists.
• Self-starter mindset, comfortable operating in a fast-moving, entrepreneurial, and cross-functional environment.

Benefits

• Base Salary: Competitive base salary commensurate with experience and seniority.
• Performance Bonus: Performance-linked bonus tied to the growth and success of the RWA vault business.
• Flexibility: Dubai based or fully remote, with flexibility on working hours and arrangements.
• Growth: Opportunity to shape the credit risk framework for a leading institutional player at the intersection of DeFi and RWA.

Why Join RockawayX

• Pioneering Role: Define the credit risk framework for one of the leading institutional players at the intersection of DeFi, RWA, and market-neutral yield.
• Ecosystem Access: Direct exposure to top-tier DeFi, RWA platforms, and infrastructure protocols where RockawayX is an active investor and liquidity provider.
• Collaborative Team: Work alongside experts in venture investing, quantitative research, engineering, and risk curation.
• Scale: Approximately $2bn in assets under management across venture, yield, and infrastructure strategies.
• Network: 100+ portfolio companies and deep relationships across the crypto ecosystem.